head-on way than most countries. >> rose: including the united states? >> well, i think in the u.s. -- obviously you've got your own decisions to make about your fiscal problems and your issues and obviously your president and congress are engaging in that at the moment. but in the u.k. we have done that, we have got ahead of the curve and you can see in measures, for example, of how competitive the economies are, the you can is steadily becoming more and more competitive. >> rose: there's also this, the united states is engaged in this great debate that's going on in the white house with speaker of the house john boehner and the president of the united states, barack obama. what would be the optimal outcome of that debate as you look at it as a man who's dealing with the same kinds of problems? >> i'd say two things. one is we do need a resolution of this problem. i think the most immediate short-term problem facing the world economy-- i stress the word short term" is the u.s. fiscal cliff. i think if that is not resolved that is going to cause considerable problem for the world a